Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Sees Large Volume Increase – Should You Buy?

Shares of Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) saw unusually-strong trading volume on Monday . Approximately 645,391 shares were traded during trading, an increase of 129% from the previous session’s volume of 281,652 shares.The stock last traded at $164.20 and had previously closed at $171.05.

Fidelity MSCI Information Technology Index ETF Trading Up 1.5 %

The business’s fifty day moving average is $183.43 and its two-hundred day moving average is $180.48. The company has a market capitalization of $12.05 billion, a PE ratio of 36.37 and a beta of 1.15.

Institutional Trading of Fidelity MSCI Information Technology Index ETF

A number of large investors have recently made changes to their positions in FTEC. Lido Advisors LLC increased its holdings in Fidelity MSCI Information Technology Index ETF by 2.0% during the fourth quarter. Lido Advisors LLC now owns 1,951,041 shares of the company’s stock valued at $360,708,000 after buying an additional 37,440 shares during the last quarter. CHURCHILL MANAGEMENT Corp grew its holdings in Fidelity MSCI Information Technology Index ETF by 0.6% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 1,291,314 shares of the company’s stock valued at $238,738,000 after purchasing an additional 7,974 shares during the period. AGF Management Ltd. increased its position in Fidelity MSCI Information Technology Index ETF by 2.9% in the fourth quarter. AGF Management Ltd. now owns 591,343 shares of the company’s stock worth $109,327,000 after buying an additional 16,514 shares in the last quarter. LPL Financial LLC raised its stake in shares of Fidelity MSCI Information Technology Index ETF by 47.6% in the fourth quarter. LPL Financial LLC now owns 388,608 shares of the company’s stock worth $71,846,000 after buying an additional 125,340 shares during the period. Finally, SteelPeak Wealth LLC purchased a new position in shares of Fidelity MSCI Information Technology Index ETF during the 4th quarter valued at about $53,085,000.

About Fidelity MSCI Information Technology Index ETF

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.